By Aditya Soni, David Shepardson, Andrea Shalal and Max A. Cherney WASHINGTON (Reuters) -President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share,

The deal is among the largest government interventions in a U.S. company since the rescue of the auto industry after the 2008 financial crisis.

Intel is expected to receive about $10 billion in CHIPS Act grants from the government to help fund the building of chip plants in the U.S.